How the UAE Has Been Intentional About the Metaverse

I doubt if anyone could make a distinctive statement on innovation in technology and leave out monumental points such as token economy, decentralization, blockchains, and the Metaverse. Denying the reality of how the world gradually gravitates toward a simplified method of everything beats one’s existence to life at all. 

Just like every country seeking new measures of technological advancement, the UAE [United Arab Emirates] has considered more significant and intentional steps towards the Metaverse. 

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Call it the new school path to the future of solutions, the Metaverse is a hypothetical iteration of the Internet as a single, universal, and immersive virtual world aided by using virtual reality and augmented reality headsets to enhance visuals. In simpler terms, a metaverse is simply a network of 3D virtual worlds focused on social connection for modern-day applications. 

The UAE, more than every other economy out there, has been intentional about the weight of progress they have recorded and what is important to them. It has been speculated that the market for the metaverse will grow by $800 billion in just two years and $3 trillion in the next ten. 

 

Call it crowdfunding, or venture capital, MetaFi, a UAE-based trading platform for NFTs and tokens where users socialize as they trade using a combination of Twitter and Telegram discussion with their trading, has successfully raised funds from some of the biggest names in the Web3 industry. 

According to the Metaverse company, MetaFi will be using the funding to build its first core product called the Trading Metaverse, which will be a new experience in social trading governed by its users. Excitingly, over 90,000 people have been waitlisted for the platform when it goes live later in the year. 

When one looks closely, it is evident that most trading platforms compete with services that are essentially the same. This trading experience is reimagined by MetaFi, which makes it distinctively enjoyable, interesting, and sociable.  

In addition, MetaFi plans to combine important decentralized protocols with substantial liquidity in a brand-new trading environment that is gamified and intended to be an easy entry point for non-crypto users into the Trading World.  

What distinctive service does MetaFi do? It is the business of asset trading using Web3 technologies.

 

The UAE-renowned trading platform for NFT and tokens has successfully raised a whopping sum of USD 3 million from the big players in the Web3 industry. 

For people who have identified the UAE’s efforts in technology and expansion, it won't come as a surprise that the country has recently unveiled a metaverse strategy. Unlike other projects on the Metaverse, this one intends to increase the number of blockchain and metaverse businesses from 1,000 to 4,000 by 2025. 

The UAE is seeking more technological breakthroughs for its economy and provision of empowerment to every seeker of opportunity. With this mindset, it intends to grow the metaverse economy to about $4 billion. 

We have seen many tech companies enjoy funding from investors that revolutionized the game of their business. A good example is how Flutterwave, a Nigerian-owned tech company that serves as a payment gateway for merchants, and the rest is history. 

MetaFi is just another company that will change the face of the Metaverse in the coming years. This change will not just be heard of for the UAE but the global front as well, provided they ensure the right administration. 

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